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| Friday, September 08, 2006 |
Taiwan-based microchip designer Silicon Motion Technology Corp. on Friday raised its sales outlook for the third quarter, citing improved pricing and demand for flash memory products.
The company now expects third-quarter sales of about $27 million to $28 million, up from its previous forecast range of $25.5 million to $27.5 million.
Analysts on average expect sales of $26.8 million for the third quarter, according to Reuters Estimates.
Silicon Motion said it saw signs of improvement in prices for NAND flash memory, and expects demand to continue strengthening for flash memory cards used in cell phones.
NAND memory chips, which retain data even when power is shut off, are used in digital cameras and photo-snapping cellular phones.
SIMO closed Friday's session up 1.89% to $14.59 in trading on the Nasdaq.
Customers for Silicon Motion's flash cards include Creative Technology Ltd, Samsung Corp, and SanDisk Corp. |
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